It’s been a rough 14 years for Wang and the Islanders. While the team made the playoffs several times during the first seven years – typically, by the skin of their teeth – the Islanders have only played in the postseason once since 2007. That’s had a chilling effect on team finances; reports say Wang is eating upwards of $20 million a year.

The final nail in the coffin was likely the defeat of Wang’s plan to establish a new Nassau Coliseum for his franchise. He put forth many proposals over the last 12 years, from the Lighthouse Project (decried for being too large) to a simple rebuild of the arena (at taxpayers’ expense). Each proposal was defeated, until Wang, fed up with his fruitless efforts, finally announced in December 2012 that he’d move the team to Brooklyn’s shiny new Barclays Center in time for the 2015-16 season.

One would think the move to a new building would be a huge opportunity to improve the team’s fortunes, but Wang’s announcement this week shows the businessman is simply done with it all. Someone else can rebuild the team’s competitive reputation; Wang is cashing out.

With the ink barely dry on Steve Ballmer’s $2-billion acquisition of the Los Angeles Clippers, Wang saw his window and jumped through it.

He may not go down as the most effective owner in New York sports history, but nobody can say Wang didn’t try. And he proved once again that he knows when to fold his cards and walk away.